Economy One-Liners for various competitive examinations
Thank You for landing the Economy and Business section page.
Here are some important Economy one-liners for students competing for various exams
Watch some of the important Economy Bits below.
1-Hilton Young Commission (Royal Commission) Commission recommended the formation of Reserve Bank of India (RBI)
2- Reserve Bank of India (RBI)is known as Banker’s Bank
3- Reserve Bank of India introduced the Banking Ombudsman Scheme
4-Cash reserve Ratio (CRR) is a number of funds that the banks have to keep with the RBI.The RBI uses the CRR to drain out excessive money from the system.
5-Reverse Repo rate is the rate at which the RBI borrows money from commercial banks.
It is also a tool which can be used by the RBI to drain excess money out of the banking system.
6-The rate at which the RBI lends money to commercial banks is called repo rate.
The repo rate in India is similar to the discount rate in the US.
7- Statutory Liquidity Ratio is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.
It refers to the amount that the commercial banks require to maintain in the form of gold or govt. approved securities
8-ATMs- Automated Teller Machines; WLAs- while-label ATMs; NDTL- Net Demand and Time Liabilities
9-C.D.Deshmukh was the first Indian RBI Governor
